Aaron Wealth Advisors LLC Raises Position in AbbVie Inc. (NYSE:ABBV)

Aaron Wealth Advisors LLC raised its holdings in AbbVie Inc. (NYSE:ABBV) by 8.7% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,653 shares of the company’s stock after buying an additional 934 shares during the quarter. Aaron Wealth Advisors LLC’s holdings in AbbVie were worth $2,442,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. EnRich Financial Partners LLC grew its position in AbbVie by 196.4% during the fourth quarter. EnRich Financial Partners LLC now owns 166 shares of the company’s stock valued at $29,000 after acquiring an additional 110 shares during the period. Promus Capital LLC purchased a new position in shares of AbbVie in the 4th quarter valued at $30,000. Prudent Man Investment Management Inc. acquired a new position in shares of AbbVie during the 4th quarter valued at $32,000. Pinney & Scofield Inc. acquired a new position in shares of AbbVie during the 4th quarter valued at $36,000. Finally, Inlight Wealth Management LLC purchased a new stake in AbbVie during the 1st quarter worth $42,000. Hedge funds and other institutional investors own 70.23% of the company’s stock.

AbbVie Price Performance

Shares of NYSE ABBV opened at $189.92 on Wednesday. The company has a current ratio of 0.76, a quick ratio of 0.64 and a debt-to-equity ratio of 44.14. The company has a market capitalization of $335.47 billion, a price-to-earnings ratio of 80.82, a price-to-earnings-growth ratio of 1.23 and a beta of 0.48. AbbVie Inc. has a twelve month low of $163.52 and a twelve month high of $218.66. The business has a 50 day simple moving average of $186.85 and a 200-day simple moving average of $188.22.

AbbVie (NYSE:ABBV) last released its quarterly earnings data on Friday, April 25th. The company reported $2.46 EPS for the quarter, topping analysts’ consensus estimates of $2.40 by $0.06. The firm had revenue of $13.34 billion during the quarter, compared to the consensus estimate of $12.91 billion. AbbVie had a net margin of 7.31% and a return on equity of 412.03%. The firm’s revenue was up 8.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.31 earnings per share. As a group, equities research analysts expect that AbbVie Inc. will post 12.31 earnings per share for the current year.

AbbVie Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Tuesday, July 15th will be issued a dividend of $1.64 per share. This represents a $6.56 annualized dividend and a dividend yield of 3.45%. The ex-dividend date is Tuesday, July 15th. AbbVie’s dividend payout ratio (DPR) is presently 279.15%.

Analysts Set New Price Targets

ABBV has been the topic of a number of recent research reports. Citigroup boosted their price objective on AbbVie to $205.00 and gave the stock a “hold” rating in a research note on Wednesday, June 11th. Cantor Fitzgerald initiated coverage on AbbVie in a research note on Tuesday, April 22nd. They issued an “overweight” rating and a $210.00 target price for the company. Wells Fargo & Company boosted their price target on AbbVie from $210.00 to $240.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 5th. Erste Group Bank upgraded AbbVie to a “strong-buy” rating in a report on Monday, March 17th. Finally, Guggenheim lifted their price objective on shares of AbbVie from $214.00 to $216.00 and gave the company a “buy” rating in a research note on Tuesday, April 29th. Eight analysts have rated the stock with a hold rating, seventeen have issued a buy rating and three have given a strong buy rating to the stock. According to MarketBeat.com, AbbVie currently has a consensus rating of “Moderate Buy” and an average price target of $211.29.

AbbVie Company Profile

AbbVie Inc discovers, develops, manufactures, and sells pharmaceuticals worldwide. The company offers Humira, an injection for autoimmune and intestinal Behçet's diseases, and pyoderma gangrenosum; Skyrizi to treat moderate to severe plaque psoriasis, psoriatic disease, and Crohn's disease; Rinvoq to treat rheumatoid and psoriatic arthritis, ankylosing spondylitis, atopic dermatitis, axial spondyloarthropathy, ulcerative colitis, and Crohn's disease; Imbruvica for the treatment of adult patients with blood cancers; Epkinly to treat lymphoma; Elahere to treat cancer; and Venclexta/Venclyxto to treat blood cancers.